Commercial Vehicle Takaful Coverage

Our Private Car Comprehensive Vehicle Takaful Coverage provides a comprehensive cover for your car that you can can be sure of. We offer the most attractive rates in the industry so that you can be at a peace of mind after any incident.

Frequently Asked Questions (FAQs)

Coverage

The Participant shall be indemnified against loss of or damage to the Motor vehicle and / or its accessories whilst thereon by;

1. Accident external means
2. Fire external explosion self-ignition or lightning or frost
3. Burglary house-breaking or theft
4. Malicious act
5. Riot, strike
6. Flood, hail, wind, hurricane, cyclone, tornado or typhoon
7. Earthquake volcanic eruption or other convulsion of nature and
8. Whilst in transit by air, road, rail, inland waterway lift or elevator

No payment will be due in respect of;

1. Consequential loss, deprecation, wear and tear, mechanical or electrical break-down, failure or breakage nor for damage caused by overloading or stain nor for the loss of or damage to accessories by burglary, house-breaking or theft unless such motor vehicle is stolen at the same time, or
2. Damage to tyers and battery, unless the motor vehicle is damaged at the same time when the coverage is limited to 50 percent of the cost of such replacement.

In the event of the Motor vehicle being disabled by reason of loss or damage covered under this Policy, the Participant shall be paid the reasonable cost of protection and removal to the nearest repairer(s) and of redelivery to the Participant but not exceeding Rs.500/- in all , in respect of any one accident.

The participant may authorize the repair (s) of the Motor vehicle necessitated by damage for which coverage has been granted under this policy provided that:

1. The estimated cost of such repair (s) does not exceed Rs.1,000/-
2. The company is furnished forthwith with a detailed estimate of the cost, and
3. The participant shall give the Company every assistance to see that such repair is necessary and the charges are reasonable.

Exceptions

No payment will be made in respect of:

1. Any accident, loss, damage and/or liability caused, sustained or incurred outside the Geographical Area, as described in the schedule,
2. Any claim arising out of any contractual liability,
3. Any accident, loss, damage and/or liability caused, sustained or incurred whilst the Motor Vehicle in respect of, or in connection with which cover is granted under this Policy, is;
   1. being used otherwise than in accordance with the limitations as to use as described in the schedule, or
   2. being driven by any person other than a driver as described in the said schedule
4. (a) any accident, loss or damage to any property whatsoever, or any loss or expenses whatsoever resulting or arising there from or any consequential loss
   (b) any Liability of whatsoever nature, directly or indirectly caused by or contributed to or arising from ionizing, radiations or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel. For the purposes of this exception, combustion shall include any self-sustaining process of nuclear fission
5. Any accident, loss or damage or liability directly or indirectly caused by or contributed to or arising from nuclear weapons material.
6. Any accident, loss, damage and/or liability caused, sustained or incurred after any variation in termination of the Participant’s interest in the Commercial Vehicle.